Media release - 18^th July, 2013

Raine & Horne Sans Souci breaking records for prestige properties

Raine & Horne Sans Souci sold 6 Tuffy Avenue for $3.025 million – a record price for a non-waterfront home in the region
The leading Sans Souci real estate firm also sold 41 Toyer Ave for $1.37 million, a regional record for a duplex site
Over the past three months Raine & Horne Sans Souci has recorded an auction clearance rate of 94%

Records for executive homes in Sans Souci are being shattered, according to local property specialist, Raine & Horne Sans Souci, who recently secured two record million dollar sales.

“Robust bidding, low interest rates and a shortage of housing stock in the St George region is underpinning the record sales,” said Angus Raine, CEO of Raine & Horne.

“As a result, motivated sellers of blue-chip residences in Sans Souci have their best chance in years to secure excellent sales results.”

The magnificent home at 6 Tuffy Avenue, Sans Souci, for example, was the first non-waterfront property in the St George region to beat the $3 million mark.

Designed by renowned architect Renaldo Gaiety and sold by Ray Fadel, Principal of Raine & Horne Sans Souci, the stunning property features striking Caesar stone and Carrera marble finishes, and comes with a spectacular solar-heated swimming pool.

The home was nominated for a number of building awards, according to Mr Fadel, and proved popular with buyers.

6 Tuffy Avenue, Sans Souci

“We averaged around 40 groups at every open house and sold the property after three emotionally connected buyers battled it out on the auction floor,” he said.

“With initial expectations around $2.5 million, we were pleased the home sold for $3.025 million, smashing the previous record sale for a non-waterfront home in Sans Souci by over $700,000.”

Strong auction bidding also played a role in the recent record sale of 41 Toyer Avenue, Sans Souci.

“This duplex site was a renovator’s delight on 836sqm of land,” said Mr Fadel.

“We had 22 registered bidders on the day and the property sold for $1.37 million – $320,000 above the reserve – which is a record sale for a duplex site in the region.”

Such exceptional sales have not been isolated cases for Raine & Horne Sans Souci, who in the last three months successfully sold 16 of 17 homes under the hammer.

“Our auction clearance rate is currently at 94% and we are selling homes priced from as low as $350,000, right up to $4 million,” said Mr Fadel, who confirmed auctions are proving the best method for selling homes in Sans Souci and Sandringham.

“The auction process draws out committed buyers by establishing a deadline and urgency,” said Mr Fadel.

“It also leaves the price of the home uncapped, meaning vendors are likely to achieve a high sales result through auction rather than by private treaty.”

10/122 Clareville Avenue, Sans Souci Local residents have reacted to Raine & Horne Sans Souci’s record run, with two premier residences – 10/122 and 4/122 Clareville Avenue, Sandringham – listed for auction with the leading real estate firm.

“Apartment 10 is a landmark five bedroom residence built entirely from limestone on approximately 900sqm; while 4/122 Clareville Avenue, Sandringham has stunning water views and is expected to sell somewhere in the high $2 million range at auction,” said Mr Fadel.

“Sandringham is an exclusive suburb on the eastern side of Sans Souci, which in the last six months has jumped nearly 15% in value.”

Raine & Horne Sans Souci also holds the highest sale for the St George Peninsula for 2013 with its $3.11 million sale of the five bedroom waterfront residence at 84 Clareville Avenue, Sandringham in April.

-ENDS-

For further media information contact:

Ray Fadel, Principal, Raine & Horne Sans Souci on 0413 177 739

Andrew Harrington, National Marketing & Communications Co-ordinator on 02 9258 5400

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